Israel Economic Sentiment October 2016

Israel: BoI State of the Economy index weakens in October

November 29, 2016

In October, the Bank of Israel (BoI) Composite State of the Economy index increased 0.10% from the previous month, which was below September’s 0.24% increase and the lowest result in nine months. The index in October was driven down by worsened downbeat trade data and weaker industrial production, according to the Bank.

On an annual basis, the State of the Economy index rose 3.4% in October, which was down fromslightly lower than the 3.6% increase observed in the previous month. The annual average variation in the index came in at 3.3% in October, which mirrored September’s print.

FocusEconomics Consensus Forecast panelists foresee the economy growing 2.9% in 2016, which is up 0.1 percentage points from last month’s estimate. For 2017, the panel projects that the economy will expand 3.3%, which is also up 0.1 percentage points from last month’s Consensus.